barnes & noble up nine 1/2%. [closing bell ringing] cheryl: seeing gains certainly of more than 3%. that is helping lift the index. >> absolutely. record highs. moved back to an area where it is comfortable with 1176. david: bells are ringing. look at this, s&p 500 another high on the s&p 500, folks. dow jones making nice baines. the dji is about the best that we're looking at of all indices. we're keeping a close eye what is happening with the russell 2000. it didn't manage to get into the green. we can't ignore the small cap and mid-sized companies. they have been making a nice comeback. top of the board is doing well. nasdaq can not pull out a gain today. they have been doing quite well for themselves. cheryl: have s&p keeping us positive with another record close. time for your front page headlines. new jobless claims tumbled to the lowest level in three months, calling 326,000 to the

323,000. coming out one day before the monthly jobs report from the labor department. david: new york fed president bill dudley saying that the recent economic weakness has not derailed his up deet expectations of the economy for the whole year. he believes the fed will continue to gradually decrease bond purchases. cheryl: european central bank president, mario draghi held the eurozone benchmark interest rate steady at record low of 2.25%. he predictions modest recovery will continue. david: shares of discount chain cost go going lower than disappointing quart i recall earnings report. cost go cost go, weaker sales from non-food merchandise. cosmos go. cheryl: sales jumped 67 from a year earlier. david: here is good news. u.s. households net worth hitting a new all-time record last year.

adjusted for inflation. wealth rose 14%. that was mostly due to surging stock market and rising home values. "after the bell" starts right now. david: we have mark newton who will talk to us about the quality of recent market rally. and mark sebastian joining us from the pits of the cme. mark, don't fight the tape. of course nasdaq was down a little bit but a new record on s&p. i think s&p is pointing toward 2000, don't you. >> that's where it looks. we should talk about the point where it is not breaking a new record, not where it is. that is how strong the s&p 500

as been. if you look at the whole market right now, the path of least resistance is up, not down. you have managers, that are raising to try and catch up against last year. not wanting to get caught flat-footed like they did in 2013. if you look where hedge fund and money managers did relative to the overall s&p, they did not perform very well. a lot of those guys don't want to get caught doing the same thing. that is part of what is really pulling us higher. additionally, if you told me six months ago that the fed was going to taper and 10-year treasurys would be trading, have a 2.75% yield, i would have said, 1900 is in the cards for sure. you know at this rate, with the speed, with the, with the way rates are holding steady, i think 2,000, barring some unforeseen event, i think 2,000 is absolutely in the cards. cheryl: okay. mark newton, you're bullish, mark but you're still a little concerned about the numbers that you're seeing.

the markets potentially get ahead of themselves. you're saying getting in today, eventually. >> there is problems with the quality of rally since early february, cheryl. there are far fewer stocks making new highs. anything last few weeks, anything in december or october, we have inner market divergence. despite the fact russell moved to new highs against alot of indices. dow and dow transports are lagging quite a bit. that is definitely concern. the third you're starting to see exuberance move back into the market yet again. recently last couple days, you seen put to call on equities go below .50. a lot more calls being bought than puts. that is little bit of concern. sector rotation continues to help stocks stay exuberant and float. that is something important investors need to make, that helps lagging sectors make inroad and start relatives terms.

david: john, mark set it right, exuberance. i think back to irrational exuberance the phrase of alan greenspan. we heard richard fisher, the dallas fed chief suggesting there may be some of that going on. what do you think? >> i think that could be and thanks for having me on. one of the interesting things is just momentum of the market by regular every day investors. there has been some study that is indicate ad lot of investors that got out of the market in 2009 and sat on the sidelines of the market are now getting back in. they have missed the last five years. that alone, with that momentum of over $360 billion could move the market forward. plus the fact as you started this segment with, consumers wealth creation gone up. consumers are very confident. their portfolios are up. so they're very positive on the market. there is really a lot of momentum to the market right now. cheryl: mark sebastian, if you look at momentum again, we still have unforeseen territory. that is what it happening with russia and ukraine. there will still be nervous news, if we get more bad news,

especially tomorrow, out of russia and ukraine this rally is off the table. >> yeah. i mean, if something really blows up in ukraine, absolutely will pull the rally off but looking at tomorrow's number, i don't think it is going to be, i think we're seeing some good things out of it. i think within a range, we'll see the market perform the way we expect. if there's a small miss or in line, s&pes will sell off. if we beat a bill lit, s&pes will rally. -- beat a little bit. if there is really huge miss, do we rally on that because that means fed will not tighten anymore? or if there is a really, really big beat, does the market sell-off because the fed will have to speed up-rate of tightening. i think latter is less likely but former is interesting thing to watch. if we have a really big miss i think it will be telling if the market is able to rally off that. david: mark newton, okay, i want to go to mark newton now because i was thinking and hoping anyway

that the market, the stock market, had kind of gotten beyond that hoping for a bad economy so that the fed pumps up more. what do you think? >> none of this economic data has matter whatsoever in last couple months. we've seen economic data miss by a wide margin yet the market continues to go higher. if anything, look at data in the nfp, they have been higher on nfp day and 14 out of 15 occasions. difficult to fight the market tomorrow. despite we backed off a little bit toward the close. the trend is positive and pays until you stick with that. david: i'm just wondering specifically to that point, we were hearing from mark sebastian, do you think the market has gotten beyond point where they hope for bad jobs numbers so they get the fed to slow down the tapering is. >> that is tough to say. what is happening with russia and ukraine will continue to be issue next four to six months. no guaranty it will be immediate detractor what is happening with stocks. it should be bullish with

energy. energy has been lagging over last four to six months and grad wally started to show more signs of strength. if anything, recently, we started to see a little bit of pickup in some drillers and xop and oil services. that could be very positive along with what is happening with materials for the months ahead as we start to see more and more evidence of the sector rotation playing out. cheryl: john, certainly one of the things you've been concerned about with russia and ukraine is fed. if we get a negative number tomorrow that could change fed policy. we had two fed speakers today. both said they don't know, they just can't tell what is going on with the economy because of the weather issue. >> i think we're actually going to see more clarity there in the next couple months and just yesterday the fed beige book report came out, eight of the 12 districts reporting into the fed for february, indicated that they were seeing moderate to modest growth. acrossacross the board within jt about every district they all cited the weather.

we'll see over next couple months if in fact the weather had pretty big impact. for example, in manufacturing in january, we saw decrease in manufacturing, isa manufacturing index. that was up in fenn, almost 2%. what was interesting about that report as well, that new orders in manufacturing were up about 3.3. so certainly from manufacturing standpoint, they're expecting things to move forward to be positive. and i think what you will see is that the, that the harsh winter we had had a big effect across unemployment and other things and we'll see that trend out, and i think market goes higher first quarter into the summer. david: mash sebastian, inflation hearing more particularly in commodities. do you get a sense of that in the cme? >> everybody is watching that over here. we're all bond traders and what not. that is the key. that is what will able to let 10-year stay so low. we're not seeing inflation with growth in the economy. that really allowed the 10-year

note. if the 10-year note starts to move, all right, you asked earlier what will cause, derail this rally? if the 10-year note starts to move drastically, yields move dress exly higher. that will -- david: mark sebastian, how much longer than the 10-year yield avoid the inflation that we're seeing in commodities? >> you know, i don't know. it's -- david: honest answer. >> i shocked below three, i'm shocked it is below 3% now, i'll be honest. i will be flabber gasted if it is anywhere south, if it is anywhere south of, of 3 at end of the year and really 3.25. rates should rise that would be healthy for the economy. david: mark sebastian, thank you very much. very honest trader on floor of cme we'll come back to mark in just a couple minutes. mark and john, thank you as well. appreciate it. cheryl: ukraine's bills are adding up the country says it

needs 35 billion in aid over next two years. a large part will come from the imf will it ride to the rescue quickly enough or will the u.s. be the savior? we'll talk a top imf official next. david: billionaire investor wilbur ross is selling his stake in the bank of ireland, more than, tripling the stake in 2011. he is smart. where is heading now. he joins us in a first on fox business interview you can't afford to miss. cheryl: he is brilliant. tell us what you think of all of this. dallas fed president richard fisher is worried about a stock market bubble. are you? well, tweet us at ftnatb. ♪ [ male announcer ] what if a small company

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up late. thinking up game-changing ideas, like this: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com cheryl: s&p 500 hit a 50th record close in the last year. 5th of the year. s&p futures are closing. let's head to mark sebastian in the pits of cme. >> little movement after the bell in the s&p futures. only trading after the bell is people reportioning or closing up shop. going tomorrow, s&p price options are pricing $13 move f we have anywhere beyond, you know, 3/4 of a percent, that

means the market got surprised by whatever number came out. keep an eye on 13 bucks pour our target move tomorrow. david: good stuff, market thank you. teen focused retail stocks, that is always a dangerous bet. they're taking a hit today. cheryl: teenagers are dangerous. nicole petallides on floor of the new york stock exchange. >> they're somewhat fickle, a little unpredictable. sometimes something is hot and then it is not. it is a difficult group to try and gauge. one thing consistent with the exception of abercrombie & fitch, all the names on this board, aeropostale, pacific sunwear, american eagle, are all lower this year while the s&p 500 is in the green and we are seeing all of these names down today. children's place, down 7.3%. they came out with weaker sales. but the trend overall has been less foot traffic in stores, colder, obviously a tough winter, this winter weather makes it tough. they have moved a lot towards e-commerce. we'll continue to watch that story.

but overall, this is the moody teen apparel stocks, that is appropriately named. it has been a tough bunch overall. you do have aeropostale almost 20% down this year. pacific sundown 20%. winner of the bunch is abercrombie & fitch out of favor for a while but a winner this year up 25%. credit suisse upgraded it. david: my daughter recently worked there. all in the family. nicole, thank you very much. buying low and selling high is one of the old axioms in the in investing. few get it right. will per ross has a habit of betting well on distressed assets. he invested in bank of ireland in 2011 when nobody would touch it. earlier this week he sold part of his stake triple than what he paid for it. where does he see opportunity next, in fox business exclusive, wilbur ross chairman and ceo, a good friend of ours. good to see you. >> hello, david.

david: you get the figure right? tripled your investment. you held on a big chunk of it so you think it has a future. >> we kept 60% of the stock back. we only took off the table our original investment. david: that is beautiful. how often do you get that right? >> often enough to keep me in ties and suits, a little more than that as well. how often, looking for a distressed asset you think has a future, what sort variables do you like at? >> what we're really looking at are things that are hitting new highs and in a big boom period. usually booms lead something to the contrary later on. david: by the way, do you think that is where we're going now? >> i think we're getting toward that. i don't think we hit a real danger sign yet but a lot of exuberance is starting to get in. too many issues are able to come to market. they go to premiums. the early warning signs i think are starting to set in. david: but so, you look for

that, that peak. what kind of companies do you think will head down, that will have the future after it bottoms out? >> that's what we're trying to work on now. we normally need to research something for a couple of years before we actually go into it. and as a result of that, we need a long lead time. we need to look at them when they're doing well, cyclical businesses, anticipating that soon or later they will do less well. david: ireland of course is an island and i'm wondering if the fact that you have a captive group of people there, of consumers, has anything to do with your bets? do you look for a company that, that does have a group of consumers who don't have anywhere else to go? >> no. the irish are very mobile of believe it or not with a country of 4 1/2 p.m. population there are 85 million around the world who identify themselves around the world as irish. from all the diasporas, fromnes. even during this last crunch

there was quite a little bit about migration. david: now ukraine of course, big in the news and russia as well. we had jim rogers in here a couple months ago. we don't know if he was taking back the bet. he was betting on russia. this of course was way before ukraine was on our radar screen. what do you think of those assets? they are certainly distressed. is there any future there? >> that is political judgment more than economic judgment. david: pretty good at those. >> i think what it really symbolizes is something quite different. i think putin has become of leader of the world. i think that is the big phenomenon we have to learn to cope with. david: now wait a minute. that is pretty significant for wilbur ross to say that putin is the leader of the world. you say above the united states? >> well in terms of geopolitical things i think so. he, we have been outfoxed in syria. we're certainly outfoxed in the ukraine. i mean so we don't go to the g8 or we even kick him out of g8.

big deal. they have another batch of territory that he wanted. david: now of course the big difference between putin and president obama is, putin will be around almost forever, president obama will not. we would have elections which things change. so we could reclaim that spot with perhaps a new leader, right? >> we could very well but right now i think we're, on the wrong side of, quite a lot of issues. middle east hasn't gotten any better as far as i can see. and just think we're being viewed more and more as a paper tiger. i don't think it is an accident that within a day of when we announced that our u.s. military was back down to preworld war ii levels, happened be to be the day putin went into ukraine. david: yeah it was also couple days before china announced it was increasing its military hardware by 12%. are these geopolitical developments, and they are pretty scary listening to you

talk about them, affect your investments in? >> i think they're good for u.s. natural gas. one of his is control of pipelines and more importantly the thank you gas that flows in. many european countries have only five days storage capacity. so if in the middle of winter he decided to turn them off or gazprom turn them off it wouldn't have very long before it was very, very serious problem. david: you're talking your book because you like natural gas. you invest in it. liquified natural gas is something you're particularly interested in. there are certain restrictions how much we can export. >> right. david: are those restrictions likely to be lifted now? >> i think they're much more likely now because now people understand it is not just that it is better for the environment to use natural gas than control. it -- coal. it also could be a big export thing. that would help our balance of payments. now it is becoming i think a political chip as well.

david: i'm interested, totally different subject but bitcoins. that has been in the news. have you ever had any bitcoins? >> no, i've been bitten by them. david: there are people, big-time investors by the way who said that the twins who had started facebook with zuckerberg, bought things with it. do you see any future with bitcoin? >> i think it is silly myself, i really do. maybe i'm just too old and too old-fashioned but i think the last thing we need is an invented currency that exists somewhere out there in cyberspace. david: one final note and it doesn't involve immediate investment, but an investment in the future, education. one of the few bright spots in american education is charter schools in my mind. >> absolutely. david: they are very popular with parents, with students. not so with unions however and not so with the new mayor of the city of new york. he has closed several or

announced he is closing several charter schools. >> right. david: what is the future there? i know you're interested in charter schools. do you have any influence in what happens here? >> i think governor cuomo is on the right side of the issue. we need charter schools, or else, if it will not be charter schools, something else to fix the educational system. i think real reason we have such chronic unemployment is the schools are not turning out people who can do work needed in a technological society. until and unless we fix that no matter what government programs we do, it is not going to solve the fundamental props. david: now usually governors trump mayors but in this case the mayor has some flexibility to shut down some of these schools. will he continue to do that? >> that i don't know. i'm certainly not intimate of mayor de blasio but i do think andrew cuomo is on the right side saying if it is an economic issue which i understand the mayor painted it as being, he will fix that and he will provide some aid on a statewide

basis, wilbur ross, w.l. ross & company chairman and ceo. great to see you, wilbur. >> great to be on. david: great to see you. cheryl? cheryl: david, a lot of action on capitol hill especially when it comes to the crisis of ukraine and new sanctions and billion dollar loan package. we're live in washington with the latest how involved the u.s. will be. if you are looking to get a new smartphone, now might be the time. we'll tell you which retailer is offering deep discounts on iphone and samsung gal lax system i have both. i guess i will get a third. ♪

david: time for quick speed read, some headlines, five stories in a minute. global food prices rose to the highest level since mid 2012. due to unfavorable weather. lenovo acquisition of ibm server unit. the plant has been idle four days because of protests over transfer terms for its workers. pizza chain is a borrow could be -- sbarao could file bankruptcy as early as next week. they are $140 million in debt. i remember them forever. virgin america could go public early as second half of this year. according to the company's president, the airline's performance has improved in latest quarters. a lot of airlines have.

there is fuel being speculation about a new iphone. retailer slashing contract price of iphone 5s and 5c, to $119 a $29, respectively. they can buy the outgoing samsung galaxy s4, half the price of. [buzzer] cheryl: stuck on sbarro. david: when i first came to manhattan went there years and years ago. cheryl: we had them in high school in arizona. house approved billions in loan guaranties for ukraine after president obama promised sanctions against those undermining the country. david: peter barnes with the latest. it was lopsided vote? >> 385 to 123. overwhelming support you could say. john boehner promised continue cooperation with the white house on measures to punish russia.

the gill goes to the senate, which is not expected to take it up until next week. they want to pass more sanctions on russia. president obama signed an executive order directing a freeze on u.s. assets those involved in the russian military intervention in the crimea. and also allows the the state department to ban their travel into the u.s. >> these decisions continue our efforts to impose a cost on russia and those responsible for the situation in crimea. and they also give us the flexibility to adjust our response going forward, based on russia's actions. >> and in other developments today a top fed official, dennis lockhart, of the atlanta fed bank told right that's the fed is monitoring the ukraine crisis for economic, financial, geopolitical effect that is might harm the u.s. secretary of state john kerry is headed back to the u.s. tomorrow after meeting today with russian foreign minister in rome.

and holding other meetings with foreign officials. leaders of the european union met today. they announced a limited punitive measures against russia including suspension of trade and visa talks. the e.u. is considering other moves in coordination with the u.s. finally the navy announced it is moving a destroyer into the black sea though it said that the shift was preplanned. david and cheryl. cheryl: peter barnes. a lot going on. peter, thank you so much. david: thanks, peter. well the collapse of one of the world's leading bitcoin exchanges has global regulators on alert. coming up we'll hear what israel's prime minister has to say to liz claman about regulating the digital currency. can it be done? first on fox business interview. cheryl: would you like to protect your phone conversations from government eavesdropping or cyber criminals? we talk to the ceo of a company that is selling a phone that could safeguard your privacy. ♪

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power. should this measure be passed? david: joining us john lipsky, former imf first managing director. has a lot of private sector experience as former chief economist for chase and other banks. john, good to see you. thanks so much for coming in. >> happy to be here. david: let's first talk about whether we get our money back from the loan guaranties. it is overwhelming vote and nothing but sympathy for the brave freedom fighters in ukraine however the country, victor yanukovych, the pro-russian leader, the country he left behind is in a mess. it is terribly corrupt, bureaucratic system. do you think that is a safe bet, that one billion dollars? >> oh, not as it stands in the sense that package or the loan guaranties are part of a much broader package of economic policy reforms being discussed right now by the imf staff team visiting kiev. for sure, the, ukraine,

ukrainian economy has bright future with changed policies, they have lots of resources but it will take some important change what is being discussed right now. cheryl: john, one. things we found out this week, separate from ukraine, but with regards to the im. , under the president's budget 2015, fiscal budget is proposed there is proposal to switch fund away from the imf into the general budget. your reaction to that, something just at the imf so recently. >> there are a lot of technicalities i think are not well-explained and understood generally you about the important issue is the following. when the g20 leaders, including president obama gathered in seoul, korea, in november 2010 for their summit there they agreed on a increase in the imf quotas and reform of the voting shares. it was promises that would be ratified by october 2012.

everyone complied, save the united states. and this reform supported by any other member of the imf is simply waiting for congressional approval. it is an important element of support and reform going forward that is right now is harming the image of the united states around the world and needs to be reformed. and that will help the, the standing of the imf as it moves forward to negotiate the kind of economic policy changes that are necessary to make the u.s. loan guaranty good. david: all right, john, frankly a lot of the reasons that people have hesitations about the imf because they don't always agree what the imf suggests a country needs to do. i used to work in the editorial page of the journal as you well know. we were quite critical of some of the devaluations and some raises in tax rates, particularly value-added tax recommended by some imf advisors in some countries. it leads me to ask specifically

what do you think in ukraine, going back to that story, what should that government do to get that economy going again? think you're right. they have wonderful resource, smart people. it could be producing much more. what should they do to change their country to get it right? >> well, first of all the imf staff team will be discussing this in detail with ukrainian authorities at this time but there are some big elements that are obviously going to be needed for any successful policy reform in ukraine. they are straightforward. first a competitive exchange rate. well their currency with the crisis has fallen by more than 20%. that shouldn't be a problem. secondly, they run completely outscaled program of energy subsidies that cost about 8% of gdp. this is money that is just essentially wasted and i'm sure as a source of great corruption. third, they need to put their budget on a sustainable path, and i'm sure if they reformed

the energy subsidies, that will be a big contribution. david: let me stop you right there, john. so far i haven't heard anything about growth. and again, one of the criticisms, one of the criticisms we have against the imf, or that i have had in the imf in the past the need to balance the books above the need to grow. shins you talk about tax reform, getting rid of all the taxes and regulation that is prevent the private sector from producing? >> well of course there are broad reforms that are needed but right now the ukraine is running a budget deficit of about 8% of gdp of and energy subsidy program, that costs about 8% of gdp and has to be paid for in hard currency for imported energy and current account deficit of about 8% of gdp. they're virtually out of international reserves and have big foreign debts. something has to be done in a hurry because that is simply unsustainable. so we have -- cheryl: john, this is the no the first time that the imf has

loaned ukraine money. and i'm curious if you think any of these loans in the past 20 years have been successful? in mid '90s, 3 1/2 approximately. 2.2 billion in '98. 16.4 in 2008 went to ukraine. have any of these programs been successful? >> the most recent programs haven't actually been completed exactly because ukrainian authorities didn't implement the promised and agreed reforms. and as a result the, those operations were suspended and ukraine didn't receive the fund. of course there will be very specific agreements in an imf accord but ukrainian policy changes that are absolutely necessary as i just described in order to avoid much more dire outcomes. cheryl: well -- david: john lipsky, who by the way, i have a quote of yours six

years ago, john. i was going to quote, you were one of the few people warning about a downward credit spiral. you got it absolutely right. six months before the financial meltdown. >> i wish i had been wrong. david: john knows what he is talking about. we'll have you back to talk about the domestic economy right here in the u.s. thank you, john. >> very welcome. david: thank you. david: appreciate it. it is being called the snowden phone. the new company is offering what it says is a fully encrypted smart phone, a defense against data monitoring about 10 bucks a month. we'll be talking to the ceo. mine was earned in korea in 1953. afghanistan, in 2009. orbiting the moon in 1971. [ male announcer ] once it's earned, usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protecon. and because usaa'commitment to serve current and former military members andheir families is without equal. begin your legacy. get an auto insurance quote.

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david: in the wake of the scandal over former nsa contractor edward snowden, digital privacy is a top concern for many americans. one company has taken the next step to insure your smartphone is secure. cheryl: the mobile company freedom pop, issued the smart phone yesterday, not only sold out within a few hours but several hundred thousand people added names to the waiting list. how does the phone keep your information private? we have the ceo. steven, that is the question, how can you guaranty the privacy of your customers? >> so what we've done, we basically have taken a samsung galaxy s 2, with virtual vpn, virtual private network. the user data is sent to servers across the globe and data is encrypted.

on top of that we don't store data. even if encrypt shun is cracked we store no data. there are browsers, et cetera. they can change phone numbers as much they want. pay for bitcoin if that amenity is important. they can wipe the phone if lost and phone. snap a photo of the perpetrator and wipe awol athe data. david: does it have to be samsung? can it work for other phones as well? >> the phone we're offering for $189 is galaxy 2. it does not have to be samsung. we plan to introduce other phones to retrofit. david: how about apple's? >> some day, yeah. got to work with apple on that but we're already reaching out. cheryl: how do you compete then with verizon and at&t? i mean walmart is offering phones. there are some phones out there. how do you compete and get customers to take up your phone versus theirs? >> well short answer is we're about 90% cheaper than verizon and about 85% cheaper than at&t.

right now, privacy phone is a specific phone but if you freedom populace october launched services for all mobile phones are as cheap as five bucks a month. we have a free plan where you get 200 minutes, 500 texts, 500 megabits of data, every month, forever, no gimmicks. reality, value is competing with these guys and we're pulling hundred of thousands of users, millions of users down the line from these big carriers with value centric plans. david: what about creating a hot spot? so many people have devices they want to use. they don't, they don't feel like they need a phone at all. does your system provide them with a hot spot? can they just pay for that? >> absolutely. not only can you just, for free, by the way, none of this $15 a month, kind of tactics you see from big carriers, not only turn the phone into hot spot, sell for cheap as 20 bucks period, an actual hot spot you have in addition with your phone, which

comes with free data as well. cheryl: certainly, t-mobile did kind of change the game and take bigger carriers off their perch if you will. now seems you're kind of doing the same thing and you're offering the privacy. do you see this company, your company, going public at some point? do you see that in your future? >> yeah. we've been around for a little over a year. we're already on a trajectory to have ipo-type numbers when it comes to revenues and revenues you need to take company on nasdaq by end of next year. so whether we go public or whether we stay private we'll make that decision as time approaches. our revenue is ramping. we're growing revenue and subscribers double digits every month. david: freedom is very important and know there is question lot of folks, seems like a perfect phone for bad guys trying to cover their tracks. does that concern you at all? >> to be honest it does. i mean, getting new technology it can be abused and we have create ad phone meant to protect american privacy but at the same

time, it can also protect drug dealers privacy or, husband cheatings on his wife. it can be abused. we're basically, hoping, that it is, marketing and targeting americans concerned about privacy. in the last six or seven months we've seen a huge shift in american sentiment towards privacy concerns. we'll keep our eyes peeled. if we see forums or see the thing pop up in for runs we don't necessarily align with objectives there we'll look to curtail that. david: stephen, fascinating, fascinating project. i appreciate it of the looks like you're selling well, so congratulations for entrepeneural standpoint as well. freedom pop. is the name of the company. thank you, steven. best of luck. >> thanks for having me. david: absolutely. cheryl: we are finally learning about the mystery man who created the digital currency bitcoin. who is he? we'll tell you just as soon as we come back. david: also modern-day "goldfinger" has come up with a new, i'm no shirley basssy, with

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cheryl: so the inventor of bitcoin, the controversial digital currency may have been discovered in california. music magazine claims to have tracked down the mysterious man behind it all. david: we didn't know if it was one person who existed. let's go to our own jo ling kent for details. >> dave, cheryl, according to "newsweek" the inventor is nakamato. elusive 64-year-old japanese american engineer who is worth $400 million but chooses to live in a modest home in southern california. he reported to create bitcoin in 2008 but tells "newsweek" he is no longer involved. we reached out to him but we have not heard back again. the reported discovery of bitcoin's behavior after apparent suicide first met at that ceo. the 28-year-old was found dead in her singapore apartment on february 28th. meanwhile the japanese government is setting regulations for bitcoin trading including transaction actions.

this after mt. gox filed for bankruptcy losing half a billion dollars in bitcoins. speaking of regulation, israeli prime minister benjamin netanyahu weighed in on the bitcoin debate in an interview yesterday with liz claman. >> the question is, is electronic money, inevitable? probably. how will we manage it with the necessary controls you need to protect markets, governments, currency flows. that is not easily resolved. >> bit corn coin is trading $658. yesterday's transactions, today's transactions plummeted from 80,000 two daysing a, to about 53,000 so far today. interestingly the by the government community is not reacting well to the outing of the inventor. some are angry about the report. that it destroys a sense of tight-knit community in the bitcoin world.

quite a controversial report out of "newsweek." cheryl: jo jo ling kent, thank . david: we asked you on facebook and twitter if you're worried about stock market bubble. wayne told us the market is overpriced due to qe. when the easy money is gone the correction will be serious. cheryl: todd wrote in to say the fed is printing like maniacs. malinvestments have to be corrected. go offer the desk, german cartooning firm carlson came out with limited gold-plated mercedes-benz 350 versailles. each comes with 1050 sheets of gold leave. it takes more than 200 man-hours to complete. the car's interior has more than $60,000 worth of gold. there are 25 existing models of the limited edition vehicle. 10 have been claimed by carlson customers. the company has yet to publicly give the car a price tag. david: it was a solid gold car in gold inker.

number one thing to watch tomorrow will be february jobs report. economists expecting 149,000 new jobs. we'll wait and see if they're right. cheryl: there you go. david: gerri willis and adam shapiro is in for gerri tonight.

adam: hello, everybody, i'm adam shapiro in for gerri willis. right now on "the willis report", the obama administration's war on seniors. the plan to destroy a big benefit enjoyed by millions. also, skirt-chasing perverts get a high court approved pass to photo your private parts. wait until you hear the judge's reason why and she's a woman. and aaa is here with a new safety warning. what you're doing behind the wheel could kill you. those stories and a lot more right now on "the willis report."